The CME began rolling out its suite of electronically-traded, small-contract 'E-mini' stock index futures in 1997. The exchange now boasts a 92 percent market share of index futures and options trading[2] led by the E-mini NASDAQ-100, the CME's fastest-growing e-mini index contract by trading volume. The E-minis, which trade at one-fifth the size of regular index-futures contracts, have been called one of the two most successful trading innovations of the past decade.[3]

Trading Index Futures

Stock index futures, especially E-minis, offer traders and investors a range of advantages, including extremely high leverage, no physical or electronic delivery hassles and the chance to trade the whole market in a single contract.[4]

Product Fingered In Market Decline Of May 6, 2010, But No Anomaly Found

Despite concerns that a sharp market decline on May 6, 2010 compared to that seen in the crash of 1987 may have been fueled by irregular trading in stock index futures, the CME said in a statement released on that date that trading by Citigroup Global Markets Inc. in its stock index futures markets did "not appear to be irregular or unusual in light of market activity" on that day. CME Group said that while its policy was not to comment on individual participation in its markets, it was releasing its statement about Citigroup "in light of volatile market conditions."[5]Citigroup also released its own statement, saying that there was no basis for rumors that it was responsible for a massive trading error on that date.[6]